News Corporation (NWS) Q3 2026 Earnings Call

Investor webinar replay

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Replay transcript excerpt

WEBVTT 00:00:00.031 -- 00:00:05.178 underpinned by recurring revenues and expect to report strong results 00:00:05.178 -- 00:00:09.203 in the fourth quarter. Some themes by segment. 00:00:09.203 -- 00:00:15.591 At Dow Jones, we expect continued strong revenue performance and improved margins. 00:00:15.591 -- 00:00:20.797 At Digital Real Estate Services, Australian residential new-buy listings for April 00:00:20.797 -- 00:00:23.200 rose 19%. Please 00:00:23.200 -- 00:00:28.447 refer to REA for more detailed outlook commentary, which now assumes lower operating 00:00:28.447 -- 00:00:33.589 cost growth. At Realtor, we hope to see continued revenue improvement, 00:00:33.589 -- 00:00:38.851 albeit the overall housing recovery could be impacted in the shorter term by rising 00:00:38.851 -- 00:00:40.885 mortgage rates. 00:00:40.885 -- 00:00:45.953 At book publishing, overall HarperCollins trends remain favorable, and we 00:00:45.953 -- 00:00:49.638 expect to benefit from a stronger front-list program. 00:00:49.638 -- 00:00:54.706 At news media, we expect to incur some incremental costs compared to the prior 00:00:54.706 -- 00:00:59.754 year related to the rollout of the California Post, but should also see some 00:00:59.754 -- 00:01:04.392 benefits from new content licensing revenues. 00:01:04.392 -- 00:01:10.399 While third quarter cash flows were impacted by the timing of working capital, we expect 00:01:10.399 -- 00:01:15.504 strong free cash flow growth for the fiscal year despite moderately higher 00:01:15.504 -- 00:01:20.029 capital expenditures as we had communicated earlier this year. 00:01:20.029 -- 00:01:24.512 With that, I'll turn it over to the operator for Q&A. 00:01:26.236 -- 00:01:28.999 Thank you. We will now start the Q&A session. 00:01:28.999 -- 00:01:31.6...